⛰️ Enviro Futures #9

HolonIQ's environment futures coverage for the week ahead.

Our Climate Tech coverage has grown significantly, and due to popular demand, we're splitting it into weekly Energy Futures, Enviro Futures, Infra Futures, and Mobility Futures newsletters over the coming weeks.

This newsletter is 'Enviro Futures,' and you can update your subscriptions to any of the other weekly newsletters here.

Happy Monday 👋

The UK regulator for food standards announced that they are reforming the regulatory process to enable cultivated meat producers to get their products to market faster. Cultivated meat is seeing an uptick in interest in Europe where a study conducted by Spanish plant-based meat brand Heura found that 85% of Spaniards would consume more plant-based meat if they were aware of its benefits. Fashion brand Prada Group partnered with UNESCO where the proceeds from one of its sustainable collections will be granted to support UNESCO ocean literacy programs. Contrastingly, the Competition and Markets Authority of the UK issued a warning to 17 fashion brands and unveiled a new compliance guide to assist them in adhering to rules while making environmental claims about their merchandise.

🌱 Food Systems

🧪 UK Regulator to Streamline Approval Process for Lab-Grown Meat. The UK's Food Standards Agency (FSA) is reforming the regulatory process to make it easier for companies to get approval for cultivated meat products.

🚜 World's Largest Agricultural Spray Drone Introduced by US Company. Rotor Technologies Inc., a US company, introduced the Sprayhawk, the world's largest agricultural spray drone, which costs $900,000.

🌱 Spanish Consumers Open to Plant-Based Meat Alternatives. A survey found that 86% of Spaniards would be willing to consume plant-based meat alternatives if they meet their nutritional and taste requirements, and have a lower environmental impact

🌊 Oceans and Water

🌍 Prada and UNESCO Partner for Ocean Education. Prada Group is partnering with UNESCO, and the proceeds from Prada's recycled Re-Nylon collection will support UNESCO's ocean literacy program, which aims to educate people about the importance of oceans.

♻️ Environmental Services

👚 UK Regulator Warns Fashion Brands Over Misleading Green Claims. The UK's Competition and Markets Authority (CMA) warned 17 fashion brands and released a new compliance guide to help them comply with regulations when making environmental claims about their products.

🛒 Home Depot Eliminates Hard-to-Recycle Packaging Materials. The Home Depot, a major home improvement retailer, eliminated the use of expanded polystyrene foam and polyvinyl chloride film in the packaging of its private-brand products as part of its sustainability efforts.

🌳 Meta Signs Major Carbon Removal Deal with BTG Pactual. Meta signed a deal with BTG Pactual Timberland Investment Group to purchase up to 3.9 million nature-based carbon removal credits through 2038.

💨 Air Quality

🏭 Dhaka's Air Quality Crisis. Dhaka, the capital city of Bangladesh, became the second most polluted city in the world with an alarming Air Quality Index (AQI) score of 158. When the AQI value for particle pollution is between 101 and 150, air quality is considered ‘unhealthy for sensitive groups. 

😷 Delhi-NCR Ramps Up Air Pollution Control Measures. Delhi-NCR revised its Graded Response Action Plan to tackle air pollution, banning certain vehicles and implementing measures in advance based on air quality forecasts.

📊 Air Quality Monitoring Market Projected for Significant Growth. A press release from SkyQuest Technology, a company involved in the air quality monitoring industry valued the industry at $4.8B in 2023 and is set to grow to $8.12B by 2031, growing at a CAGR of 6.9%. 

🐟 Forestry and Fishing

🌳 Reforestation Initiative in Ghana. The European Union funded a $5 million project called LEAN to plant over 600,000 tree seedlings across 13 communities in Ghana's Bono East and Ashanti Regions to restore degraded forest areas over the past 4 years.

👗 Textiles

📈 India's Textile and Apparel Exports rose in July. India's textile and apparel exports in July grew by 4.73% to $2.9B compared to the same month last year, mainly driven by an increase in demand for apparel, the Confederation of Indian Textile Industry (CITI) said on Thursday.

👚 Vietnamese Sustainable Fashion Brand Wins International Recognition. Mrs. Do Thi Thuy's sustainable textile brand in Vietnam won two major international awards, including the "Golden Globe Award for Sustainable Green Fashion Brand" from the International Alliance of Business Professionals (IABP).

💰 Environment Deals

🏭 Twelve Raises $645M to Transform Carbon Dioxide into Valuable Products. Twelve, a Berkeley-based company, raised $645M in funding to convert captured carbon dioxide into chemicals, fuels, and other products typically made from fossil fuels.

🗑️ Summa Equity invests $250M in Bollegraaf Group. Summa Equity, a private equity firm invested $250M in Bollegraaf Group, a company that provides recycling and waste management solutions.

🏗️ Swedish Steel Company Secures Major Grant for Green Hydrogen Plant. Stegra, previously known as H2 Green Steel, secured a $111.4M grant from the Swedish government for its green hydrogen-based steel plant.

🌱 Pairwise Raises $40M in Series C Funding for Gene Editing Technology. Pairwise, a Durham, NC-based technology company that specializes in gene editing to improve plant breeding, raised a $40M Series C funding.

Thank you for reading. Have a great week ahead!
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